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Drivers without insurance could be heading for trouble

Officials are warning drivers with no insurance to watch out for increased scrutiny and penalties from authorities in the UK. According to a recent report police authorities across the UK are getting increasingly tougher on drivers that do not have insurance cover on their vehicle, and many could end up losing their vehicles to the crusher if they are caught and are unable to pay the hefty fines and penalties that will be imposed on those without cover. Read more

Increased driving costs causing consumers to cut back

Over recent months rising living costs, mortgage costs, and tighter credit conditions have resulted in an increasing number of households having to find different ways to try and cut back on their outgoings in order to keep afloat financially. Whilst many people have cut back on non-essential costs such as going out, subscriptions, buying clothes, and shopping, many others have had to try and cut back on other costs, and this includes the cost of keeping their vehicle on the road. Read more

Review carried out into FOS

An influential report has recently been released following a six month review of the Financial Ombudsman Service in the UK, with a number of changes recommended as a result of the review. The report was released by Lord Hunt of Wirral, and highlights a number of recommended changes picked up as part of the review into the FOS. Over seventy recommendations were made, all aimed at making the service more accessible and more transparent. Read more

Lower Fines For Uninsured Drivers

Courts have come under fire recently after it was revealed that the fines imposed on drivers that have no insurance have actually fallen over the years. According to the report there has been a drop of over 20% in the amount that uninsured drivers are fined since the Labour Party came into power in 1997. Home Office figures show that the average fine imposed on an uninsured driver in 1997 was £224 but in 2005 the average fine had fallen to £177. Read more

Some may be covered for damage resulting from networking parties

Over the last couple of years there has been a rising interest in social networking sites, which have become especially popular amongst teenagers who want to try and make new friends both in the local area and around the world. However, whilst these sites enable users to chat and make friends, there have also been concerns raised about things such as how easy it can be for people to find out your personal details, and even where you live, which could lead to a myriad of problems. Read more

ASA receives complaints about Friends Provident

The advertising regulator in the UK, the Advertising Standards Authority, has received a number of complaints about a financial services provider with regards to an advertisement that was run by the company. The complaints were about the financial provider Friends Provident after the company launched an advertising campaign that involved sending out a leaflet that looked like x-ray results from the doctor or hospital. Read more

Sharp rise in building insurance complaints

According to a recent report there has been a sharp rise in the level of building insurance related complaints. Turbulent weather has been blamed for the rise in building insurance related complaints, which have risen by a third according to figures relating to the number of complaints made to the Financial Ombudsman Service. Recent bad weather has included the tremendous storms from last summer, a tornado that hit late last year, and also more recent stormy weather. Read more

Pet insurance cover launched by Post Office

Over recent years, with the threat of branch closures looming, the Post Office service has launched a variety of new services and products ranging from car insurance cover to broadband service. The latest service to be launched by the Post Office service is pet insurance policies, which could help many pet owners across the UK enjoy affordable protection and healthcare for their beloved pets. Read more

What Type Of Car Insurance Do You Need?

Car insurance is a compulsory form of insurance cover in the UK for any driver, and this type of insurance is designed to protect other parties who may suffer loss, damage, or injury as the result of an accident that was your fault. This insurance also protects your vehicle against certain things depending on the level of cover that you take out. There are different types of car insurance cover, and you can select the one that best fits in with your needs and pocket. Read more

Finding the right travel insurance

Anyone that travels abroad without travel insurance in place risks having to pay out dearly in the event that they get sick or injured whilst away, and they also don’t have the benefit of cover against losses, damages, or theft of their belongings. It is therefore vital that you take out travel insurance cover if you are travelling abroad, both for peace of mind and for protection. Read more

The importance of having car insurance in place

If you drive a car in the UK it is a legal requirement that you have car insurance in place, both to protect you and to protect others. Car insurance is designed to protect other parties that may suffer loss, damage, or injury as the result of an accident that was your fault, and if you have comprehensive cover your vehicle will also be covered even if the accident was your fault. Read more

Price comparison insurance sites to come under investigation

According to a recent report price comparison sites that deal with insurance services are to come under scrutiny from the Financial Services Authority following concerns that were raised by the British Insurance Brokers’ Association. Price comparison sites have become increasingly popular over recent years, with more and more sites being launched and consumers able to compare the cost of a range of services and products through these sites. Read more

A fortune being wasted on insurance cover

According to a leading consumer group thousands of pounds is often wasted by consumers on taking out insurance policies that is costly and does not benefit them. The consumer body Which? Said that many people fork out a fortune on ‘useless and expensive insurance cover’, which in many cases is not even necessary. Read more

Finding a good deal on pet insurance

Pet insurance is a type of insurance cover that is designed to protect the health of your pet, much in the same ways as health insurance and medical insurance covers people. In the event that your pet is injured or gets sick your pet insurance plan will help to cover the cost of treatment or surgery, so that you do not have the added stress of financial worries. Read more

Legal and General have to pay out to cancer victim

A cancer victim has finally received justice after her insurance company refused to pay out against her critical illness cover, stating that she had failed to disclose some conditions, despite the fact that the conditions that they quoted were totally unrelated to cancer. The customer, Jacqueline Bradburne, has had to fight for a year to get her money, and even had to go through the Financial Ombudsman Service to see justice done, after her claim was rejected by Legal and General. Read more

Consumer wins critical illness claim

A woman who suffered a brain haemorrhage last year and had to have brain surgery performed has finally won her claim for a critical illness payout after the insurance company tried to convince her that she was not eligible to claim because she had failed to disclose vital information. The nurse, aged fifty five, had a critical illness policy with Abbey National, and this had been passed over to Phoenix as part of the sale of this part of the Abbey National business. Read more

The easiest way for homeowners to organise their finances

Anyone that has a large number of debts to juggle each month is likely to find financial management difficult, time consuming, and frustrating, with an increased chance of missing payments or making late repayments and risking the chance of future credit. Read more

Loss of personal and sensitive data should be an offence

A group of MPs has stated that agencies and firms found to have recklessly or repeatedly lost sensitive and personal data should be charged with a criminal offence. Members of the Justice Select Committee are calling for more stringent laws and increased powers when it comes to loss of sensitive data, stating that the level of recent incidents involving the loss of personal data has highlighted the need to take action with regards to this type of incident. Read more

Norwich Union Life fined by regulator

The financial regulator in the UK, the Financial Services Authority, has fined the leading insurance company Norwich Union over its life insurance division, which fell victim to a major fraud scam in 2005. The major £3.3 million fraud incident took place in the life insurance division t Norwich Union two years ago, and the insurance company was accused of failing to do enough to stop the fraud and protect customers. Read more

New Amex travel insurance plan for students

Students can now enjoy a more flexible form of travel insurance that has been launched by American Express, which caters for students that plan to travel during their gap year. The new insurance from American Express allows students travelling in their gap year to return to the UK for up to fourteen days, which means that they won’t have to miss out on important events and family occasions. Read more

Experts repeat warnings over home insurance

Experts are once again urging consumers in the UK to check on their home insurance to ensure that their expensive Christmas gifts are adequately covered. At this time of year there are all sorts of expensive and luxurious goodies under trees in homes all across the UK, and this is something that thieves prey on at this time of year. Without the safety net of adequate cover you could end up losing your gifts and you may have to bear the financial consequences. Read more

Regulator fines Norwich Union Life

According to a recent report Norwich Union Life has been fined by the UK’s financial regulator, the Financial Services Authority, over a major fraud incident that occurred in 2005 in its life insurance division. The £1.26 million fine was imposed on the insurance company by the FSA for failure to carry out adequate checks in order to prevent the £3.3 million fraud that took place a couple of years ago. Read more

Reduce the cost of insurance cover for younger drivers

Over recent months the insurance industry has been fighting back against the illegal process of fronting. This is where a younger driver has his or her car insured under a parent’s name in order to keep the premiums down. However, this is not only illegal but also means that the driver is unable to build up any no claims in order to enjoy cost effective insurance in later years. One insurance company, however, has been highlighting ways in which younger drivers can enjoy lower premiums in their own name. Read more

Think twice before purchasing additional insurance on purchases

In the run up to Christmas retailers in the UK are once again pulling out all the stops in order to try and increase revenue from the millions of Christmas shoppers that are hitting the high streets.

One of the ways in which retailers are doing this is through trying to sell expensive insurance policies to shoppers that are purchasing gifts, and the high cost of these policies can really bump up the cost of any purchases that you make. Retailers are even trying to sell these pricey policies on inexpensive gifts that cost around £5. Read more

Insurance ads duped many elderly customers

A recent report has highlighted how many elderly consumers were duped by misleading life insurance advertisements in the 1980s and 1990s, and many are now paying the price for falling for these misleading advertisements.

In fact, the advertisements in question are still being run now, but the insurance is not as popular as it once was. However, there are still consumers that believe that the offer is too good to miss, not realising that in years to come they may have to pay a very hefty price in order to retain their insurance benefits. Read more

PPI still under investigation

Over the past year PPI, or Payment Protection Insurance, has hit the financial headlines on many occasions, after it was found that many lenders were mis-selling PPI.

Lenders were accused of selling this insurance to those that could never benefit from it, forcing consumers to purchase PPI by making out that they would not get finance without it, and even adding PPI to finance deals without the knowledge of the consumer. PPI can be very costly, and those found guilty of this type of mis-selling have been slated by regulators and campaigners. Read more

Standard Life pensions customers at risk due to security breach

Thousands of pensions customers at Standard Life could be at risk after a serious breach of security involving the loss of a CD containing personal details on around fifteen thousand customers.

The CD was on its way to the Standard Life head office in Edinburgh from HM Revenue and Customers – sending such information on CD is a routine process. However, the CD went astray enroute when being taken from HMRC by courier service. Read more

My Budget Day launched by AXA

One of the nation’s well known insurance companies AXA is urging employers around the UK to help employees to sort out their money issues by allowing them a small amount of time each month.

The insurance company claims that just one hour per month for each employee could provide valuable time for the staff member to sort out money issues, and could help to reduce stress levels, potentially saving the company a fortune each year, which would otherwise be lost as a result of stress related sickness. Read more

Rise in insurance fraud detection could catch more people out

The insurance industry in the UK is warning fraudsters that officials are working harder than ever to catch out fraudsters, and that dishonest people should be on their guard because the likelihood of being caught committing insurance fraud is higher than ever.

The UK has a high level of insurance fraud across all sectors of the insurance industry, and because of the fraud that is committed by dishonest consumers honest policyholders are being forced to pay far higher premiums to cover the cost of fraud. Read more

Insurance fraud detection is on the rise

According to a recent report the level of insurance fraud taking place in the UK is on the rise, and many honest insurance customers are being forced to foot the bill to cover the cost of fraudulent claims made by less honest policyholders.

The data relating to the level of insurance fraud comes from the trade body, the Association of British Insurers, and indicates that insurance fraud in the UK is continuing to climb, and the cost of cover is likely to rise sharply as a result. Read more

Term life cover more popular than whole

According to a recent report term life insurance cover is fast gaining popularity in the UK, and has become far more popular amongst UK consumers than the alternative whole of life cover.

Term life insurance has always been a popular type of life cover, as it is more affordable that whole of life cover and is simpler and easier to understand. The recent survey shows that this form of life insurance cover is now favoured by the majority of UK consumers. Read more

Job can affect the amount you pay for your vehicle insurance

A recent report has shown how the cost of vehicle insurance can be dramatically affected by the type of job that the applicant has.

In some cases the job does not even involve driving but can still dramatically affect the cost of cover for the applicant.

According to the figures there is a difference of around £850 between the highest paying policyholder and the lowest paying. Around 465 different professions were used as part of the research, and thirteen insurance companies were involved. Read more

Insurers may not cover people in high risk flood areas

In June and July of this year many areas of the UK were severely affected by torrential rain resulting in severe flooding.

This flooding caused thousands of pounds worth of damage to many homes, and in addition to the chaos that it caused for homeowners it also resulted in huge numbers of claims made to insurance companies. Insurers were forced to pay out billions of pounds in damages as a result of these claims. Read more

New PPI guidelines to be available from FSA

The UK’s financial regulator, the Financial Services Authority, has announced that it will be stepping in to make it easier for consumers in the UK to find the right Payment Protection Insurance policy for their needs.

PPI has come under fire over recent months, with regulators carrying out a review that showed this type of cover has been mis-sold, pushed onto customers who didn’t want to take it out, and even sold to customers with their knowledge in some cases. Read more

Sainsbury’s offering low cost home insurance on bundles

Supermarket giant Sainsbury’s recently announced a special offer on home insurance for homeowners, which could come as relief for many in the light of insurance premiums rocketing by up to 3% in the last three months as a result of the summer floods, which cost insurance companies around £3 billion in claims for damage caused by the weather.

Sainsbury’s launched its special deal on home insurance not long after announcing changes to its credit card that meant longer interest free periods for borrowers.

Read more

Are you carrying around a small fortune without insurance?

These days people carry many of their possessions around with them when they go to work, shopping, out with friends, or even out on a night out.

With mobile phones, expensive jewellery, handheld consoles, cool watches, and a variety of gadgets about their person, many people could find that they are actually carrying around items that amounts to hundreds of pounds in total, which could mean the potential to suffer huge losses in the event of any unfortunate incident. Read more

Customers must reassess home and contents insurance needs

Consumers in the UK are constantly being urged to bear in mind the importance of having adequate home and contents insurance cover in place, and many – particularly after the recent flooding seen in the UK – have taken the time to ensure that their valuables and their home is covered against malicious or accidental damage, theft, loss, and other possibilities. However, many are failing to reassess their insurance needs after having work carried out or after buying valuable items, which could prove to be a real downfall if anything happens state experts. Read more

Making sure you don’t experience problems with your travel insurance

Over the coming weeks many individuals, couples, groups, and families in the UK will be heading off on their holidays, and many will be sorting out travel insurance cover to protect them whilst they are away from home.

However, experts have highlighted the importance of informing the insurance company of key facts relating to health issues in order to try and avoid a dispute with the insurance company over a claim that you might make. Read more

Flood victims will not receive compensation from Severn Trent

According to recent reports over 350,000 households in the Gloucestershire area are being refused compensation from Severn Trent Water, despite being left without water for nearly three weeks in some cases.

Reports claim that Severn Trent Water had even put funds aside in order to compensate the victims, after they lost access to drinkable water due to the closure of a treatment plant, but the water giant has now decided that the problem stemmed from unprecedented weather conditions, and therefore none of the affected households are entitled to claim compensation.
Read more

Is your home and contents insurance adequate?

Consumers are being urged to check that the level of home and contents insurance that they have in place is still adequate after having major works carried out or after purchasing expensive items and gadgets for the home.

Many consumers may think that they have adequate cover for their home and their belongings within the home, but many fail to actually amend the level of cover that they have when they purchase expensive jewellery or items that will be kept in the home, or whether significant works are carried out that could affect their insurance. Read more

Payment Protection Insurance sales halted by Nationwide

Officials from the largest building society in Britain, the Nationwide, have admitted that the staff are not performing properly when it comes to the sale of Payment Protection Insurance, also known simply as PPI.

As a result they have announced that the sale of this type of cover is to be temporarily halted until training issues have been sorted out. PPI has been at the centre of controversy for some months after it was found by regulators that many policies were being mis-sold to consumers that could never benefit from them. Read more

Is your pet insured for accidents, injuries, and illness?

To most pet owners in the UK their cats, dogs, and other pets are part and parcel of the family unit, and most want to ensure that their beloved pets are protected against illness, injury, and harm.

Although many people get their pets vaccinated against various health problems that could strike, most animals are still at risk of injury or unexpected illness, and when this strikes the vet’s bills can quickly mount up and can prove extremely costly. Read more

Insurance premiums to be affected by flood costs

This June in the UK was one of the wettest on record, with torrential rain and bad weather causing severe flooding and vast amounts of damage in some areas of the country, leaving many without a food over their heads and even resulting in fatalities.

As a result of the high level of damage caused by the rain insurance companies have been flooded by claims from homeowners that have incurred thousands of pounds worth of damage, and insurers have had to pay out millions of pounds in these claims. Read more

Great life insurance reduction for vegetarians

A new life insurance venture is offering vegetarians and fish eaters the chance to enjoy lower insurance premiums, as the insurance companies involved state that this group is a lower risk group when it comes to the possible development of serious, life threatening diseases.

The joint venture has been set up by Animal Friends Insurance and Liverpool Victoria, and offers special life insurance premium discounts for those that do not eat meat.

Read more

Check out your travel insurance before you leave home

Summer is the time when many people travel abroad on vacation and want to protect themselves by taking out travel insurance to protect themselves while they are away from home.

Experts stress that it is extremely important for such policyholders to inform the insurance company of any health-related issues in order to avoid any disputes with the insurance company or any problems that may arise if you do need to make a claim. Read more

Vehicle insurance premiums have rocketed

Drivers in the UK are suffering more than ever when it comes to extortionate vehicle insurance premiums, with insurance costs going up by more than 100% in the past thirteen years according to recent reports.

There are a number of factors that have resulted in these massive rises in insurance premiums, and this includes the cost of repairing new cars, damage caused by drivers that are not insured, inflated insurance claims and fraud, and even claims made against insurance companies by the wide range of no win no fee firms that are in operation these days. Read more

Is Direct Line most competitive insurer?

Following praise for its competitiveness in the Deloitte Quarterly Motor Insurance Market Report, Direct Line is now being criticized over claims that it is one of the most competitive car insurance companies in the UK.

The insurance giant has been making the claims since the publication of the Deloitte Quarterly Motor Insurance Market Report, which showed that in over a quarter of hypothetical cases studies Direct Line gave one of the three cheapest quotes. Read more

Direct Line offers competitive car insurance

Consumers in the UK have a choice of many insurance companies to select from when it come to insuring their vehicles, and it can be difficult for many to determine which insurance company and policy is going to offer them best value for money.

Many consumers may now decide to turn to Direct Line insurance for their motor insurance cover, after the insurance giant was named the most competitive in the Deloitte Quarterly Motor Insurance Report.
Read more

Many insurance claim fiddles by middle class

Most people associate crimes such as insurance fiddling with lower income households. However, according to recent reports many illegal activities such as fraudulent insurance claims are carried out by middle class households.

One particular insurance fiddle that seemed to prove popular amongst the middle class population was inflated insurance claims, where the policy holder bumps up the price of stolen or damaged items and adds on items that were not stolen or damaged. Read more

Consumers continue to go green with insurance

According to recent reports and figures more and more consumers in the UK are turning to green insurance cover in a bid to help the environment.

Officials state that green insurance is rising in popularity, and this is partly due to the rise in awareness over environmental issues amongst consumers in the UK. A spokesman for the Environmental Transport Association, David Douglas, stated that a rising number of consumers are turning to green car insurance policies. Read more

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